GasBuddy Blog

GasBuddy News Article

votes

Gulf Coast refineries look seaward for sales

Chron -- When operators of Alliance refinery began efforts to shed the Louisiana facility in December, it became the latest in a string of U.S. refineries put on the block.

In the midst of an economic slump, the nation was using less fuel and drivers were making fewer stops at the gas pump. But after just a few months of talking to potential buyers, Phillips 66 pulled Alliance off the market.

"We fully intended to let that asset go," CEO Greg Garland said in an interview. "Our view of Gulf Coast crude started changing."

What changed was the United States' role in the global fuel market. After years of suffering from declining gasoline and diesel sales at home, Gulf Coast refiners are finding new value in selling more of their products to fuel-starved economies overseas.

As the United

Read the Full Article

Submitted Sep 08, 2012 By: aservant

Back To News

Category: Daily News Article Discussions > Topics	Add to favorite topics

Author	Topic: Gulf Coast refineries look seaward for sales	Post a Reply Back to Topics

REPLIES (newest first)Ignore Short Messages

First

Next Last

jrs4125 Champion Author Indiana Posts:2,753 Points:590,770 Joined:Sep 2011	Message Posted: Sep 10, 2012 5:16:47 AM Ignore jrs4125 Report Abuse Plenty crude, no refineries. Not good for the consumer. Good for the 1% though.
Tomeboy Champion Author Twin Cities Posts:3,764 Points:559,115 Joined:Apr 2009	Message Posted: Sep 9, 2012 11:52:40 PM Ignore Tomeboy Report Abuse You can tell more about a person by what he says about others... than you can by what others say about him.
rjoeh Champion Author Michigan Posts:7,076 Points:2,469,240 Joined:Jun 2004	Message Posted: Sep 8, 2012 10:25:20 PM Ignore rjoeh Report Abuse Just as long as they are using the higher imported oil from other countries for refinement and resale overseas. American Oil should stay in America and help us rebuild the fiasco created by the current Administration. I hope most citizens are not the ignorant dolts that the Democrats feel they are and lets put them out of business in November.
Wolfman_TJack Champion Author Twin Cities Posts:2,509 Points:460,290 Joined:Feb 2012	Message Posted: Sep 8, 2012 10:25:16 PM Ignore Wolfman_TJack Report Abuse U.S.A. a net exporter again The United States was a net exporter of petroleum products in 2011 for the first time since 1949, as certain fuel exports reached record levels and imports fell to historic lows. The volume of fuel and other petroleum products exported from the United States has more than doubled since 2006. Nearly 3 million barrels were shipped across U.S. borders each day last year, compared with less than 1.3 million barrels five years earlier. "We believe that demand for gasoline in this country has already peaked, in 2006 or 2007, and it will never again be that high," said spokesman Bill Day. "To keep those refineries open, you have to find a place for that gasoline to go." The Gulf Coast stands to gain the most from the United States' growing role as a fuel exporter. The region is a hub of sophisticated, world-class refineries, boasting port access and close proximity to the nation's biggest buyers, including Mexico and Brazil. "The Gulf Coast is the Saudi Arabia of the refining world," said Doug MacIntyre, senior oil market analyst for the U.S. Energy Information Administration. "The U.S. has always had a strong refining sector, but in the past, that was for domestic consumption. Now there is another market, the foreign market, that refiners have access to." Latin America is the nation's best customer. Since 2006, the United States has grown its average daily shipment of petroleum products to Latin America by nearly 850,000 barrels a day, a 164 percent jump. Drill Baby Drill = Export Baby Export Where is that Canadian Tar Sands Oil heading too?
rahcat Champion Author Grand Rapids Posts:2,468 Points:662,200 Joined:Jan 2010	Message Posted: Sep 8, 2012 10:14:25 PM Ignore rahcat Report Abuse The consumer can't seem to catch a break.
Bezalel Champion Author Oklahoma City Posts:12,098 Points:2,290,020 Joined:Oct 2006	Message Posted: Sep 8, 2012 10:02:44 PM Ignore Bezalel Report Abuse Stop subsidies until All refined product stays here!
tutaw Champion Author Kentucky Posts:3,595 Points:841,770 Joined:Sep 2008	Message Posted: Sep 8, 2012 10:02:29 PM Ignore tutaw Report Abuse ok
shores4now Champion Author Kentucky Posts:2,406 Points:523,800 Joined:Jul 2009	Message Posted: Sep 8, 2012 10:01:54 PM Ignore shores4now Report Abuse Ok
Catfish93001 Champion Author Ventura Posts:1,200 Points:247,955 Joined:Jun 2008	Message Posted: Sep 8, 2012 10:00:02 PM Ignore Catfish93001 Report Abuse How's that "drill, baby, drill" stuff working?
nimpy Champion Author Indianapolis Posts:8,135 Points:1,701,105 Joined:Oct 2007	Message Posted: Sep 8, 2012 9:57:04 PM Ignore nimpy Report Abuse a reason for the price to be high
Tomeboy Champion Author Twin Cities Posts:3,764 Points:559,115 Joined:Apr 2009	Message Posted: Sep 8, 2012 9:56:52 PM Ignore Tomeboy Report Abuse RoadKing95 nailed it... along with Mitt Robme or is it Myth Robme?
fenster66 Champion Author Pittsburgh Posts:3,345 Points:673,115 Joined:May 2011	Message Posted: Sep 8, 2012 9:56:24 PM Ignore fenster66 Report Abuse good to know...
DustyHorse Champion Author Virginia Posts:6,085 Points:1,391,805 Joined:Oct 2008	Message Posted: Sep 8, 2012 9:55:54 PM Ignore DustyHorse Report Abuse Hard to believe with all the EPA regs in this country.
trytogetby All-Star Author Cincinnati Posts:864 Points:214,000 Joined:Apr 2012	Message Posted: Sep 8, 2012 9:54:51 PM Ignore trytogetby Report Abuse We cant win. Don't drive & conserve gas . So we get punished. What the H***!
Number43 Champion Author Lexington Posts:8,697 Points:1,638,170 Joined:Oct 2008	Message Posted: Sep 8, 2012 9:54:26 PM Ignore Number43 Report Abuse I don't like it.
96sc1 Champion Author El Paso Posts:8,517 Points:1,367,440 Joined:Mar 2008	Message Posted: Sep 8, 2012 9:53:54 PM Ignore 96sc1 Report Abuse It's one of the only ways remaining to reduce our trade deficit. How pathetic.
nigelb Champion Author Virginia Posts:8,454 Points:1,390,780 Joined:Feb 2008	Message Posted: Sep 8, 2012 9:53:52 PM Ignore nigelb Report Abuse Why "drill, baby drill" does no good! Big Oil just exports to the highest bidder overseas! [Edited by: nigelb at 9/8/2012 11:54:21 PM EST]
VomVom Champion Author Calgary Posts:3,857 Points:1,627,080 Joined:May 2007	Message Posted: Sep 8, 2012 9:53:31 PM Ignore VomVom Report Abuse There are still a lot of ignorance and confusion about crude oil versus refined products. The US is NOT exporting oil. The US is still a net importer of crude oil but a net exporter of gasoline, diesel and other refined products.
Z51Corvette Champion Author Austin Posts:8,480 Points:1,670,195 Joined:Jan 2008	Message Posted: Sep 8, 2012 9:53:03 PM Ignore Z51Corvette Report Abuse Try looking at AMERICA FIRST!!!! GEE WHIZ!
Red7002011 Champion Author Mississippi Posts:3,327 Points:667,745 Joined:Jul 2011	Message Posted: Sep 8, 2012 9:52:08 PM Ignore Red7002011 Report Abuse Really!
SalukiCO Sophomore Author Colorado Springs Posts:199 Points:242,545 Joined:Jun 2012	Message Posted: Sep 8, 2012 9:51:39 PM Ignore SalukiCO Report Abuse You got that right, RoadKing.
RoadKing95 Champion Author San Jose Posts:20,549 Points:3,602,265 Joined:May 2003	Message Posted: Sep 8, 2012 9:47:27 PM Ignore RoadKing95 Report Abuse Nice! Drill baby drill! And then ship OUR rescources off shore to whomever has the best price. Who profits from this? You or me? No way. Our prices will continue to inflate and big oil will reap all the profit. This is what we will have in store under Robme!
raj_fl Champion Author Trenton Posts:3,204 Points:727,030 Joined:Oct 2010	Message Posted: Sep 8, 2012 9:47:00 PM Ignore raj_fl Report Abuse mmmm
rozellep2 Sophomore Author Illinois Posts:105 Points:574,075 Joined:Aug 2005	Message Posted: Sep 8, 2012 9:46:31 PM Ignore rozellep2 Report Abuse mmm
mfeldstein Champion Author Ottawa Posts:8,171 Points:1,930,480 Joined:Feb 2007	Message Posted: Sep 8, 2012 9:46:09 PM Ignore mfeldstein Report Abuse Fewer refineries will drive up the price of gas.
raj_fl Champion Author Trenton Posts:3,204 Points:727,030 Joined:Oct 2010	Message Posted: Sep 8, 2012 9:45:45 PM Ignore raj_fl Report Abuse mmmm
raj_fl Champion Author Trenton Posts:3,204 Points:727,030 Joined:Oct 2010	Message Posted: Sep 8, 2012 9:44:51 PM Ignore raj_fl Report Abuse mmmmm
boldrph Champion Author Topeka Posts:18,371 Points:3,450,665 Joined:Oct 2002	Message Posted: Sep 8, 2012 9:44:35 PM Ignore boldrph Report Abuse all hail the market
sciotosix Champion Author Dayton Posts:2,744 Points:665,150 Joined:Apr 2011	Message Posted: Sep 8, 2012 9:44:06 PM Ignore sciotosix Report Abuse Make the product more affordable and keep the product here.
raj_fl Champion Author Trenton Posts:3,204 Points:727,030 Joined:Oct 2010	Message Posted: Sep 8, 2012 9:43:49 PM Ignore raj_fl Report Abuse may be ameriacans are learning at a hgh price
raj_fl Champion Author Trenton Posts:3,204 Points:727,030 Joined:Oct 2010	Message Posted: Sep 8, 2012 9:43:19 PM Ignore raj_fl Report Abuse ok what a way
Blue48 Champion Author Illinois Posts:7,305 Points:1,637,945 Joined:Feb 2007	Message Posted: Sep 8, 2012 9:41:34 PM Ignore Blue48 Report Abuse OK!
goldrose1 Champion Author Cleveland Posts:10,936 Points:1,924,605 Joined:Feb 2005	Message Posted: Sep 8, 2012 9:38:25 PM Ignore goldrose1 Report Abuse need jobs here.
Goody2317 All-Star Author Wilmington Posts:680 Points:618,505 Joined:Jun 2008	Message Posted: Sep 8, 2012 9:35:14 PM Ignore Goody2317 Report Abuse We need to drill and keep it here.
skyking19 Champion Author Little Rock Posts:1,996 Points:1,698,715 Joined:Jan 2007	Message Posted: Sep 8, 2012 9:33:41 PM Ignore skyking19 Report Abuse Global economy baby!
mcmonsta Champion Author Honolulu Posts:3,227 Points:817,795 Joined:Sep 2009	Message Posted: Sep 8, 2012 9:33:02 PM Ignore mcmonsta Report Abuse don't pollute it...thats all
us4usa Champion Author Missouri Posts:5,987 Points:1,112,310 Joined:May 2008	Message Posted: Sep 8, 2012 9:32:02 PM Ignore us4usa Report Abuse Yes, DRILL BABY DRILL the more supply the better... Keep flooding the WORLD market with oil...
mrinmoyd Champion Author Illinois Posts:1,095 Points:364,525 Joined:Jun 2011	Message Posted: Sep 8, 2012 9:31:27 PM Ignore mrinmoyd Report Abuse ok
bonzoonfmb Champion Author Florida Posts:1,782 Points:643,835 Joined:Feb 2010	Message Posted: Sep 8, 2012 9:31:00 PM Ignore bonzoonfmb Report Abuse Oil production and retail is a global business.
papa56NC All-Star Author North Carolina Posts:725 Points:142,760 Joined:Apr 2012	Message Posted: Sep 8, 2012 9:29:57 PM Ignore papa56NC Report Abuse Alright!
geoutpb Champion Author Midland Odessa Posts:4,623 Points:1,066,310 Joined:Dec 2006	Message Posted: Sep 8, 2012 9:23:32 PM Ignore geoutpb Report Abuse Great news!
carloco75 Champion Author Richmond Posts:3,716 Points:600,365 Joined:Oct 2010	Message Posted: Sep 8, 2012 9:22:01 PM Ignore carloco75 Report Abuse Yippy...
MadTraveler Champion Author Idaho Posts:2,082 Points:572,100 Joined:Nov 2009	Message Posted: Sep 8, 2012 9:15:07 PM Ignore MadTraveler Report Abuse Get the feds out of the way and we will be alright.
Wolfman_TJack Champion Author Twin Cities Posts:2,509 Points:460,290 Joined:Feb 2012	Message Posted: Sep 8, 2012 9:12:22 PM Ignore Wolfman_TJack Report Abuse U.S.A. a net exporter again The United States was a net exporter of petroleum products in 2011 for the first time since 1949, as certain fuel exports reached record levels and imports fell to historic lows. The volume of fuel and other petroleum products exported from the United States has more than doubled since 2006. Nearly 3 million barrels were shipped across U.S. borders each day last year, compared with less than 1.3 million barrels five years earlier. "We believe that demand for gasoline in this country has already peaked, in 2006 or 2007, and it will never again be that high," said spokesman Bill Day. "To keep those refineries open, you have to find a place for that gasoline to go." The Gulf Coast stands to gain the most from the United States' growing role as a fuel exporter. The region is a hub of sophisticated, world-class refineries, boasting port access and close proximity to the nation's biggest buyers, including Mexico and Brazil. "The Gulf Coast is the Saudi Arabia of the refining world," said Doug MacIntyre, senior oil market analyst for the U.S. Energy Information Administration. "The U.S. has always had a strong refining sector, but in the past, that was for domestic consumption. Now there is another market, the foreign market, that refiners have access to." Latin America is the nation's best customer. Since 2006, the United States has grown its average daily shipment of petroleum products to Latin America by nearly 850,000 barrels a day, a 164 percent jump. Drill Baby Drill = Export Baby Export Where is that Canadian Tar Sands Oil heading too?
WeasleyOC Champion Author Orange County Posts:3,144 Points:801,350 Joined:Jul 2008	Message Posted: Sep 8, 2012 9:12:01 PM Ignore WeasleyOC Report Abuse Look for The green.
mrbee Champion Author Little Rock Posts:3,753 Points:2,465,610 Joined:Oct 2005	Message Posted: Sep 8, 2012 9:11:18 PM Ignore mrbee Report Abuse They want to sell
BoerneWatch Champion Author San Antonio Posts:15,536 Points:2,452,965 Joined:Oct 2005	Message Posted: Sep 8, 2012 9:06:37 PM Ignore BoerneWatch Report Abuse Follow the money and follow the increased regulations by the EPA and you will find the reason why refineries are threatening to shut down of be sold off to foreign investors.
wayoung56 Champion Author Alabama Posts:2,800 Points:818,335 Joined:Oct 2006	Message Posted: Sep 8, 2012 9:01:31 PM Ignore wayoung56 Report Abuse Interesting article...
abcdMA Champion Author Worcester Posts:7,922 Points:1,574,980 Joined:Nov 2008	Message Posted: Sep 8, 2012 8:58:06 PM Ignore abcdMA Report Abuse The economy is in another decline
MG_Sputnik Champion Author Philadelphia Posts:7,305 Points:1,959,655 Joined:Apr 2006	Message Posted: Sep 8, 2012 8:56:20 PM Ignore MG_Sputnik Report Abuse Will this help gas prices or their profits?